The Sustainable Development Goals (SDGs) were launched in 2015 by the United Nations as a global initiative aimed at eradicating poverty, safeguarding the environment, and promoting peace and prosperity for all by 2030, as outlined in the United Nations 2030 agenda. The SDGs recognize research and development as a transformative process that involves both collective and individual efforts. They acknowledge that successful global development initiatives are founded on thorough research and a comprehensive comprehension of the subject matter. Efforts have been undertaken to comprehend and employ the SDGs to develop initiatives that can effectively accomplish each go Sustainable development is a relatively new concept and gained momentum in the late 1980s.
The UN’s Brundtland report defined it as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. Theoretically, the concept has its ties with ecological modernization which opines that economic growth and ecological concerns can be favorably combined. Sustainability recognizes the interdependence of economic, social and environmental factors for all round development.
Understanding the Concept of Sustainable Development For business, sustainability is defined in several ways. For example, the 2010 United Nations’ (UN) publication “Corporate Governance in the Wake of the Financial Crisis” broadly describes business sustainability as “Conducting operations in a manner that meets existing needs, without compromising the ability of future generations to meet their needs and has regard to the impacts that the business operations have on the life of the community in which it operates and includes environmental, social and governance issues.”
The 2030 Agenda for Sustainable Development, adopted by all United Nations (UN) members in 2015, created 17 world Sustainable Development Goals (SDGs). The aim of these global goals is “peace and prosperity for people and the planet” – while tackling climate change and working to preserve oceans and forests. The SDGs highlight the connections between the environmental, social and economic aspects of sustainable development. Sustainability is at the center of the SDGs, as the term sustainable development implies.
There are several reasons why companies should focus on sustainable business practices, and they include:
- the increased future government focus on sustainable business
- such business practices often improve performance as they lower operational, reputational and regulatory risk
- there are significant business growth opportunities in products and services that address the SDG challenges
- the fact that short term, profit based models are reducing in relevance. Companies and their stakeholders are changing how they measure success and this is becoming more than just about profit.
The Three Pillars Of Sustainable Development
Environmental sustainability
The main objective of this first aspect is to protect nature and respect the planet’s resources. In this way, the potential impact of human activities is reduced.
Economic sustainability
A new, more sustainable business model is sought while continuing to generate wealth. A challenge for companies since profitability will be a direct result of environmentally and socially responsible practices.
Social sustainability
The well-being of all people and communities is pursued, ensuring access to necessary resources and basic services. Responsible and inclusive practices are sought to ensure fair employment conditions.
Details Of 17 Goals And Targets
Goal 1: No Poverty
SDG 1 is to “end poverty in all its forms everywhere.” Achieving SDG 1 would end extreme poverty globally by 2030. One of its indicators is the proportion of population living below the poverty line. The data gets analyzed by sex, age, employment status, and geographical location (urban/rural). One of the key indicators that measure poverty is the proportion of population living below the international and national poverty line.
Goal 2: Zero hunger
SDG 2 is to: “End hunger, achieve food security and improved nutrition, and promote sustainable agriculture.” Indicators for this goal are for example the prevalence of diet, prevalence of severe food insecurity, and prevalence of stunting among children under five years of age.
Goal 3: Good health and well-being
SDG 3 is to: “Ensure healthy lives and promote well-being for all at all ages.” Important indicators here are life expectancy as well as child and maternal mortality. Further indicators are for example deaths from road traffic injuries, prevalence of current tobacco use, and suicide mortality rate.
Goal 4: Quality education
SDG 4 is to: “Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.” The indicators for this goal are, for example, attendance rates at primary schools, completion rates of primary school education, participation in tertiary education, and so forth.
Goal 5: Gender equality
SDG 5 is to: “Achieve gender equality and empower all women and girls.” Indicators include, for example, having suitable legal frameworks and the representation by women in national parliament or in local deliberative bodies.
Goal 6: Clean water and sanitation
SDG 6 is to: “Ensure availability and sustainable management of water and sanitation for all.’’ The Joint Monitoring Programme (JMP) of WHO and UNICEF is responsible for monitoring progress to achieve the first two targets of this goal. Important indicators for this goal are the percentages of the population that uses safely managed drinking water, and has access to safely managed sanitation.
Goal 7: Affordable and clean energy
SDG 7 is to “Ensure access to affordable, reliable, sustainable and modern energy for all. One of the indicators for this goal is the percentage of population with access to electricity (progress in expanding access to electricity has been made in several countries, notably India, Bangladesh, and Kenya).
Goal 8: Decent work and economic growth
SDG 8 is to: “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.”
Goal 9: Industry, Innovation, Technology and Infrastructure
SDG 9 is to: “Build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation”. An indicator that is connected to climate change is “CO2 emissions per unit of value added.”
Goal 10: Reduced inequality
SDG 10 is to: “Reduce inequality within and among countries.” Important indicators for this SDG are: income disparities, aspects of gender and disability, as well as policies for migration and mobility of people.
Goal 11: Sustainable cities and communities
SDG 11 is to: “Make cities and human settlements inclusive, safe, resilient, and sustainable.” Important indicators for this goal are the number of people living in urban slums, the proportion of the urban population who has convenient access to public transport, and the extent of built-up area per person.
Goal 12: Responsible consumption and production
SDG 12 is to: “Ensure sustainable consumption and production patterns.” Another one is global fossil fuel subsidies. An increase in domestic recycling and a reduced reliance on the global plastic waste trade are other actions that might help meet the goal.
Goal 13: Climate action
SDG 13 is to: “Take urgent action to combat climate change and its impacts by regulating emissions and promoting developments in renewable energy.”
Goal 14: Life below water
SDG 14 is to: “Conserve and sustainably use the oceans, seas and marine resources for sustainable development.” Increased ocean temperatures and oxygen loss act concurrently with ocean acidification to constitute the deadly trio of climate change pressures on the marine environment.
Goal 15: Life on land
SDG 15 is to: “Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss.” The proportion of remaining forest area, desertification and species extinction risk are example indicators of this goal.
Goal 16: Peace, justice and strong institutions
SDG 16 is to: “Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels.” Rates of birth registration and prevalence of bribery are two examples of indicators included in this goal.
Goal 17: Partnerships for the goals
SDG 17 is to: “Strengthen the means of implementation and revitalize the global partnership for sustainable development.” Increasing international cooperation is seen as vital to achieving each of the 16 previous goals.
What Is The 2030 Agenda?
The 17 goals came with the adaptation of the 2030 Agenda for Sustainable Development which was adopted by all United Nations Member States in 2015. These goals are associated with this agenda. The 2030 Agenda “is a plan of action for people, planet, and prosperity,” and the goals show the dedication of the UN to this plan of action.
Sustainability Reporting
The concept of sustainable development fostered reporting on sustainability as a response of organisations towards growing concerns about environmental degradation and social and ethical issues in business practices. In the late 1980s, the first voluntary environmental reports were published. Companies with environmentally sensitive operations, especially large polluters, started to publish sustainability reporting to showcase their efforts towards sustainable development and Companies with socially sensitive operations started to develop corporate social responsibility (CSR) reporting. The concept evolved over time through the efforts of various organizations, governments, and experts in the fields of sustainability and environmental management.
The primary objective of sustainability reporting is to drive concrete actions toward efforts. Sustainability reporting helps companies communicate both positive and negative impacts of their actions on the environment, society as well as the economy, and accordingly set priorities.
To provide complete transparency in communicating the progress and efforts in sustainability, the reporting format could include photographs, numbers, charts, infographics, etc.
In the long term, sustainability reporting helps companies assess risks and opportunities and helps them drive green operations, align with CSR goals and increase cost-saving opportunities.
Audit Standards On Sustainability
There are several standards and guidelines that organizations can use to conduct sustainability audits. Some of the most widely used include:
Global Reporting Initiative (GRI) Standards: The GRI is a widely recognized sustainability reporting framework that provides guidelines and indicators for organizations to measure and report on their sustainability performance. The GRI Standards provide a comprehensive and consistent approach to sustainability reporting and are used by organizations around the world to report on their sustainability performance
ISO 26000: ISO 26000 is an international standard for corporate social responsibility that provides guidelines for organizations on how to implement, maintain, and continually improve their social responsibility practices. This standard can be used as a framework for conducting sustainability audits and provides guidance on topics such as environmental responsibility, human rights, and community involvement.
Sustainability Assessment Standards: There are a number of sustainability assessment standards that organizations can use to conduct sustainability audits. These standards provide a systematic and comprehensive approach to sustainability assessment and include the Environmental Management Accounting (EMA) standards, the AA1000 Account Ability Principles Standard, and the Sustainability Assessment Framework (SAF).
National and Regional Standards: There are also a number of national and regional standards that organizations can use to conduct sustainability audits. For example, the European Union has developed the EU Eco-Management and Audit Scheme (EMAS), which provides a framework for organizations to measure and report on their sustainability performance.
Case Study
Are the Olympic Games sustainable?
Researchers at the University of Lausanne, Switzerland, recently reviewed the social, environmental and economic sustainability of 16 editions of the Summer and Winter Olympic Games from Albertville 1992 to Tokyo 2020 and found that in all three areas, there has been a steady decline in performance, as economic benefits have gone down and environmental costs have risen. This has occurred, despite the fact that the International Olympic Committee (IOC) and its host cities have been making ever more grandiose environmental claims. ‘That the Olympics be sustainable is a requirement laid down in the contract between Olympic host cities and the International Olympic Committee (IOC). Sustainability is one of the three pillars of the IOC’s road map for the future, Olympic Agenda 2020, and features prominently in its continuation, Olympic Agenda 2020+5.
The IOC’s sustainability strategy aims to “ensure the Olympic Games are at the forefront in the field of sustainability” In 2018, the United Nations passed a resolution that declared “sport as an enabler of sustainable development” and signed a letter of intent highlighting the contribution of the Olympic Games to the UN Sustainable Development Goals (SDGs).’ In 2018, the United Nations passed a resolution that declared “sport as an enabler of sustainable development” and signed a letter of intent highlighting the contribution of the Olympic Games to the UN Sustainable Development Goals (SDGs).’ Researchers used a conceptual model with the above-mentioned three dimensions of sustainability, dividing each into three indicators and measuring sustainability via a scorecard Sustainability Audit; ESG Rating; Emerging Mandates from Government and Regulators evaluating them with three indicators each. It turned out that the Winter Olympics in Sochi in 2014 and the Summer Olympics in Rio de Janeiro in 2016 had the lowest sustainability scores.
The latter displaced a large number of residents for Olympics-related development and provided the excuse for comprehensive legal exceptions. The resulting sports venues remained poorly used after the event, and cost overruns were the highest. Data show that: ‘There are no Olympics that score highly in all or even the majority of the indicators. Cities such as Vancouver and London, which have marketed themselves as models of sustainable Olympic Games and have advised other Olympic hosts on sustainability, score below average. The study concludes that the rhetoric of sustainability does not match actual sustainability outcomes and sustainability in the Olympics is clearly declining over time as Salt Lake City (2002) and Albertville (1992) scored higher than all the rest.
Author: Ketan Joshi, Senior Associate
Co-Author: Bhavana Badgujar, CS Trainee
